What your company will look like when Millennials call the shots by mmcsx


									What your company will look like
when Millennials call the shots
        By Mr Youth and Intrepid
A study by:

 A DecADe of chAnge
 John F. Kennedy once said, ”Change is the law of life. And those who look only to the past or present are
 certain to miss the future.” This quote, though valid throughout time, rings especially true today. The
 reality of the present and possibility of the future blur together more than ever before.

 The past decade has bred unprecedented innovation in technology, financial collapse, increased fear of
 climate change, and the democratization of media creation and consumption in a globalized society dealing
 with the aftermath of a major terrorist attack. Without a keen eye and a fervent passion to both evolve and
 drive change, it is easier than ever for both brands and individuals alike to blink and be left behind.

 chAnging of the guArD
 While youth have always introduced new ideas that help shape culture, today’s young generation have
 found themselves at the very epicenter of major societal change. While Millennials may not yet be CEOs
 of Fortune 500 companies or leaders of the free world, they are possibly the biggest influencers and
 innovators around today.

 A 25-year-old is the CEO of the most searched brand on the web, a site with a larger population than the
 United States. We have a Commander in Chief who won his spot in office thanks to a grass roots movement
 fueled by social media. He YouTubes, tweets and cannot be separated from his Blackberry. Clearly
 President Obama doesn’t fall into the 1977-1996 age range used most frequently to define Millennials,
 but he understands the importance of adopting their values and thinking like one. Embracing the Millennial
 perspective is key for anyone wanting to keep up (and move ahead of the curve).

 the new LeADers
 Change will not slow down as time passes; in fact, most see it accelerating at an unprecedented rate.
 Social technologies will further pervade and integrate into our lives in ways that the rest of us not named
 Zuckerberg or Jobs ever dreamed of. Successful companies will not focus on “what’s always worked.”
 Their leaders will not be educated using traditional means, as the information in textbooks will be out of
 date before it is even printed.

 So what will lead successful companies and drive growth in the next decade? New ideas, creative
 approaches, innovative products, integrated organizations, open communication, connected communities,
 responsible ethos, and most importantly- an increased passion for change.

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 weLcome to miLLenniAL inc
 As society continues to embrace and consistently demand drastic change, it is Millennials who are
 most poised to lead tomorrow’s successful businesses. By the end of the next decade, Millennials may
 not be CEOs of every Fortune 500 company- probably not even the majority of them. But Millennials
 like Mark Zuckerberg (Facebook), Kevin Rose (Digg), Chad Hurley (YouTube), Blake Ross (Mozilla)
 and Jack Nickell (Threadless) will bring the change by continuing to shake up how we communicate,
 consume media, browse the web and make products. In order to succeed, organizations will need to
 have Millennial values sewn into the fabric of their companies. They must strive to find new ways to
 empower this budding generation and unlock employees’ creativity as they advocate change. This is
 Millennial Inc.

 About the miLLenniAL inc stuDy
 The following research study was conducted by Intrepid, a world-renowned market research
 consultancy, and Mr Youth, an integrated marketing agency recently named as one of Fast Company’s
 Top 10 Most Innovative Marketing and Advertising Companies.

 The goal: show you what your company would look like if Millennials were already in charge. After
 all, they are already your major consumers, leading influencers of culture and future leaders of your

 Through a six-month study taking place in both the United States and the United Kingdom, we
 explored and identified major themes using a three-tiered approach:

 DIgITAl ETHNOgRAPHY – The study began with developing an online community to bring
 Millennials from around world to a single place to discuss various lifestyle topics . Intrepid’s team
 of anthropologists immersed themselves in this digital space where they observed patterns in
 conversations and teased out the topics that were of the most importance to this generation.

 VIRTUAl COMPANIES – Next, two groups of Millennials (one in the US and one in the UK) were
 tasked with developing the business of tomorrow. This exercise was held during three in-person
 sessions and challenged the two groups to explore the various aspects of creating a fashion retail
 business (organizational structure, product development and marketing), resulting in identifying
 Millennials’ main approaches for creating and managing a successful business.

 QUANTITATIVE SURVEYS – To conclude the study, over 800 individuals were surveyed online across
 the US and UK to confirm and validate our findings. Topics included their viewpoints on their careers,
 work environment, marketing and messaging preferences, incorporation of technology into their lives,
 ecology/green living and more.

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 The DNA of Millennial Inc.
 Our research identified three key themes that Millennials embraced across three major areas of any
 business. Those are:

 the orgAnizAtion




 the ProDuct



     3 ECO IS NICE

 the mArketing




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 The Organization
 Collaboratively Led Enterprise
 let’s get cozy. Say goodbye to the long boardroom table and say hello to the round table. Collaboration,
 shared responsibility and consensus rule Millennial Inc.

 fLAtteneD LeADershiP
 Millennials view success as something shared across the organization. In observing the creation of
 their virtual companies in both london and Seattle, teams did not assign a definitive CEO but had
 each member focus on an area of responsibility (design, finance etc).

 shAreD resPonsibiLity
 While our Millennials found it important to have areas of expertise, they all wanted to weigh in on other
 areas of the company. The quantitative study completed by nearly 1,000 participants showed that
 82% of Millennials believe it is important to have a staff that can do each other’s jobs.

 Decision by consensus
 Expertise across areas of responsibility is valued and seen as a key input to decision making. Design
 and creativity hold as much weight as finance and management and Millennials see the value of
 bringing diverse thinkers together to come to a collaborative decision. 54% of Millennials prefer to
 make decisions by consensus, and that number shoots up to 70% when they are amongst their peers.*

 Stimulated Work Environment
 401Ks and stock options may be nice but Millennials need to be in an environment that continually
 keeps them stimulated and engaged or they will keep looking.

 continuAL chAnge
 Millennials grew up in a continuously stimulating world. Sometimes dubbed the ADD generation,
 they are always searching for work that keeps their attention. In fact, the number one reason in both
 the UK (34%) and US (37%) for switching jobs was, “Just Needed a Change.” That need for change
 far exceeds the desire for a better salary, benefits, or a more senior position. The average 26-year-old
 has craved stimulation so much, they’ve changed jobs an astounding seven times from age 18, in
 search of something more.

 chALLenging environment
 In addition to a workplace that is both “fun” and “friendly”, “challenging” was identified as the
 key component of a good work environment for Millennials. This intellectual stimulation creates an
 exciting and rewarding work place. Word clouds from the digital ethnography conducted with both
 US and UK participants showed a challenging work environment to be a core factor in Millennial
 job satisfaction.

 *Figure 1 **Figure 2 ***Figure 3
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 innovAtion-Driven cuLture
 google and Microsoft led the list of companies that Millennials in the US aspire to work for by a
 large margin. In the UK, The National Health Service came out on top with google and Microsoft
 taking second and third places respectively. google and Microsoft, along with Apple and Nike,
 were seen as innovators both for their products and their approaches. Technology and innovation
 have the same allure that previous generations attributed to fashion and celebrity.

 Idea Powered Culture
 “Seniority” and “tenure” are dirty words to Millennials. Authority is earned and proven through
 direct interactions, not given blindly based on titles and experience.

 oLDer is not better
 In the 2008 Presidential election, John McCain came out of the gates with the campaign slogan,
 “Best Prepared to lead on Day One.” With twenty-three years military experience and twenty-six
 years in national government he may have been. But, of course, it was Barak Obama’s mere four
 years in national government and “Change We Can Believe In” message that captured 62% of the
 Millennial vote. Millennials are not swayed by the “been there, done that” mantra intoned by
 previous generations, but are driven by ideas that move forward.

 eArn uP moDeL
 In creating their virtual companies, Millennials designed a model that required each employee,
 despite title or skill set, to start at the ground level and move her way up through the company.
 This approach ensured that every “employee” would have some face-to-face contact with his
 customer base and experience the brand firsthand. Those who excelled would be promoted quickly
 and paid more for their ability, rather than being rewarded for a demonstrated facility in corporate
 politics. While this may sound impractical to most of us, many Millennials believe that high-level
 executives lack proper understanding of the front lines of their own business. This point is the
 basis of Undercover Boss, a hit CBS TV show that aims to expose CEOs to the daily challenges
 of their employees.

 foLLow the iDeAs
 In a world where anyone can be an author, director, photographer, journalist, comedian, actor or
 ad man, Millennials are used to a democratized playing field where good ideas and work rise to the
 top. Individuals with big ideas are successful and gain respect through their work, and Millennials
 expect this to be true everywhere, especially in their career. If not, their ideas go elsewhere.

     “In setting up the hierarchy of the company, we shouldn’t have
     ‘experience’ or the amount of time someone has held a roll
     determine their aptitude for a specific position – I’ve had more
     jobs where my manager doesn’t necessarily know more than me
     or have the ability to do the work better, they just have been
     there longer. We should let people grow through the company
     to demonstrate ability instead.”
     - Dan, 23, Seattle

 *Figure 4
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 The Product

 Technology Breeds Humanity
 While there would be no technology without humanity, Millennials actually flip the statement and look
 to technology to make their lives more human.

 PersonALizeD AnD tAiLoreD
 Amazon.com has been around for many Millennials’ entire lives. They’ve grown up with the ability to
 customize many of the products they buy, the option to access personalized content and discover new
 entertainment recommendations based on purchase behavior. They view technology as a facilitator
 that allows companies to cater to consumers and create uniquely personal experiences. For instance,
 in creating their virtual companies, Millennials who were designing fashion solutions explored
 developing an in-store system that can scan a customer’s body measurements, compare them to
 carefully designed algorithms and match that customer with clothes that fit their body type perfectly.

 crowDsourceD creAtion
 Millennials want idea development to come directly from real people so that brands can deliver products
 that meet consumers’ needs and incorporate their collective creativity. In their virtual companies, both
 groups perceived crowdsourced business models like Threadless as being very effective.*

 invisibLe technoLogy
 While user experience design is a relatively new field (particularly outside of websites and technology
 gadgets), it is intrinsic to many Millennials’ perception of brands both online and off. They expect
 to be able to intuitively navigate products and services so that technology enables a seamless user
 experience. This is clearly illustrated by Millennials’ obsession with Apple Technology, which has
 as much to do with the physical design of devices as it does with the simple and intelligent user
 interface. Millennials want to minimize the device (or more precisely, the feeling of the device) while
 still maintaining the experience that technology enables. The Wii brought Nintendo exceedingly high
 sales through a simple, nearly button-free controller. Now Xbox’s Project Natal wants to remove the
 game controller completely, leaving only the gamer’s actual body movements to guide the experience.

 *Quote 1
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 Quality is Core
 While many brands incorrectly view the youth market as caught up in flashy trends, quality products
 are what ultimately gain their purchase and loyalty.

 QuALity evokes Love
 While Apple, Sony and Nike all make seriously stylish and innovative products, they are Millennials’
 favorite brands because they have become synonymous with quality. In describing the brands that
 Millennials love, quality was the #1 trait cited by a landslide.*

 Longevity creAtes vALue
 Creating long-lasting products may largely be out of fashion in favor of offering cheaper alternatives,
 but Millennials still value longevity as a measure of quality, value and sustainability. *Only 11% of
 Millennials disagreed that they would not spend more for items that they knew would last..

   “When I purchase something, I want to know that it’s going
   to last for a while. I don’t know, maybe it’s just the nostalgia
   of getting things handed down to me from my parents and
   grandparents and the history they had but it makes me sad
   to think that our generation’s purchases won’t go through
   the same ordeal – everything’s ‘insta-use’ and once it’s used
   it’s gone.”

    –Brittney, 21, Seattle

 exPectAtions not forgotten
 For brands with products that meet and exceed consumer expectations, Millennials’ cry for quality
 is a reassuring message. And for brands that oversell, overhype and under deliver-- well, be warned.
 Millennials are the savviest consumers ever. They are wary of ads and become more so when they
 witness products not living up to their claims. They get recommendations from friends, read reviews,
 post on Facebook, chat on message boards and do research online. The truth doesn’t escape the
 Millennial. The only way to gain their trust is to deliver and do so consistently.

 *Figure 5 and Quote 2
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 Eco is Nice
 Despite widespread belief that Millennials are highly eco-conscious, it is not a key driving factor in
 product choice.

 eco AwAreness but not concern
 Millennials may be concerned with the effects their lifestyle has on the environment but it doesn’t
 drive their day-to-day actions. While recycling and other eco-friendly actions may have become more
 integrated into their lives, it may be providing them a false sense of their overall contributions to
 environmental issues. In fact, only 20% of respondents in the international study were concerned
 about the effect their lifestyle has on the environment.*

 convenientLy conscious
 Millennials want to feel as though they are making as little negative impact on the world as possible
 as long as it doesn’t change their lifestyles drastically. They view the responsibility to move towards
 greener lifestyles to lie with businesses creating greener products, rather than with the individual.
 When these products fit their needs and are convenient to use, they will make a switch if it’s cost-
 effective and non-intrusive.

 gooD for Profit’s sAke
 In creating their businesses, one of the initial goals Millennials had was to create a model that is
 both eco-friendly and conscientious. They keyed in on business models like Toms Shoes to integrate a
 positive world contribution with sales. However, as they further explored costs and business planning,
 Ecology and humanitarian causes became less of a focus. Ultimately, Millennials see value in positive
 messaging when it helps with the core selling proposition and brand DNA, but were reluctant to
 acknowledge the usefulness of these components beyond that initial context.

 *Figure 6
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 The Marketing
 Celebrity = Overpriced Mannequins
 Millennials recognize the visibility that many celebrities can bring to a brand, but feel that companies
 are foolish to forge formal relationships with celebrities. Why? The average Milllennial cannot identify
 with the average pop celebrity.

 Direct enDorsement is tAboo
 While unsolicited publicity (like spotting Scarlett Johansson wearing TOMS shoes) is seen as
 acceptable, Millennials view the usage of celebrities directly in advertisements as taboo. *It feels
 forced, fake and totally inauthentic. **In the virtual companies conducted in both london and
 Seattle for this study, both groups opposed giving celebrities’ paid endorsements but recognized
 their pop image value.

     “If the paparazzi were to catch Victoria Beckham in our
     clothes I would be completely fine with that– she’s the kind
     of person that we want in our clothes. But to actually come
     out and advertise using her as a model would only alienate
     our audience.”

     –Becky, London, age 25
 roLe moDeLs fALL fLAt
 Charles Barkley got it right nearly 20 years ago when he said, “I’m not a role model... Just because
 I dunk a basketball doesn’t mean I should raise your kids.” In a world where celebrities’ character
 flaws and mistakes surface on a daily basis, even the most seemingly safe endorsers falter. Most
 recently, Tiger Woods left a roster of big name brands scrambling after his world came tumbling
 down. Some of the world’s most prolific brands couldn’t have predicted his public demise. His fall
 from marketers’ grace clearly outlines that no celebrity is safe from potential scorn, scandals or
 misfortune. Millennials recognize this and will avoid it when leading their own companies.

 chArActers connect
 While celebrities fail to connect with Millennials, the characters they play fare significantly better. This
 is due to the fact that the relationship Millennials have with a celebrity is really with the character that
 he or she plays. Often times those celebrities’ personal personas bear little to no resemblance. This is
 evident in the success of Seth MacFarlane’s Cavalcade of Cartoon Comedy Shorts he did for Priceline
 and Burger King where Millennial-created and shared pop culture memes and characters were used
 to convey the thought of the advertisement effectively. Characters from TV shows like Flight of the
 Concords (HP), Macgruber (Pepsi), and NBC’s Community (TurboTax) have recently been used in
 advertisements portraying the character they play on TV, rather than themselves. The connection that
 Millennials have with characters also reveals why YouTube and other smaller stars now often resonate
 with this audience more than a multi-millionaire professional entertainer.

 *Figure 7 **Quote 3 ***Figure 8

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 Interaction Keys Connection
 Not surprisingly, a generation that innately consumes, creates and participates in media is easily
 turned off by one-way communications and brands that don’t deeply interact with them.

 commerciALs Don’t convert
 Millennials view most commercials as simple notifications, superficial media for watching without
 any real engagement. Commercials help them remember that a brand or product still exists but won’t
 necessarily drive them to buy. In fact, only 17.7% of Millennials agree that their favorite TV spot led
 them to purchase the advertised product. These lackluster results combined with the fact that most
 ads are fast-forwarded or ignored prove that Millennials are hard to sway using traditional media that
 doesn’t promote interaction.

 incLusion buiLDs efficAcy
 Not all marketing and advertisements are viewed as ineffective by Millennials though. To be effective,
 campaigns need to invite Millennials into the process and allow them to get involved with the
 brand on a deeper level. User-generated Ads, Facebook Brand Pages, Twitter and a host of new
 technologies have opened up doors for Millennials to have dialogues with brands. Millennials now
 expect to be able to interact with companies to participate and promote the products and brands
 they are passionate about and they’re not turning back. Even typically one-way communication like
 commercials are expected to engage and invite vs. push and persuade.

 exPeriences engAge
 Millennials live in a 360 degree world where media bleeds together seamlessly. They don’t see
 digital, print and TV as distinct individual channels separated from their physical lives. As lines
 continue to blur, content is becoming more and more pervasive, and mobile. The best recent example
 of this fusion is the iPad, an all-in-one print, digital and video experience often used outside of
 the home.

 Because they’ve grown up in such a digital world, Millennials value tangible experiences to make a
 genuine connection with products and brands. **Successful companies will learn that 360 does not
 mean utilizing every channel, but requires creating a plan that merges and connects with Millennials
 fluidly at several life touch points. Nike+ is a great example of a platform that combines a device,
 community and digital resources together with products to add true value to runners’ lives.

 *Figure 9 **Quote 4
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 Peer-to-Peer Drives Influence
 Millennials’ distrust in advertising and dismissal of typical ad noise make impacting their behavior
 through commercial messages increasingly difficult. Peers remain as the one reliable source to break
 through and influence this over-stimulated generation.

 worD-of-mouth trusteD to inform
 Millennials innately distrust commercials and understand that many brands will often say anything
 in an attempt to win their wallets. At the same time, there have never been more resources to
 research product choices thanks to friends on Facebook, a global online community via Twitter, peer
 product reviews or a host of other tools. Millennials realize that every commercial claim can be easily
 investigated before making a purchase and they will utilize all available tools in order to do so. Not
 surprisingly, word-of-mouth was the #1 preferred place to receive news and information about products,
 with nearly as many Millennials preferring it (43%) to TV (26%) and Web Pages (22%) combined.*

 Peers DeLiver reLevAnce
 Not only does WOM give Millennials a method to validate claims, but it also enables them to learn
 about products and services from peers who can lend perspective and relevance. Whether looking
 for novels for their book club, parenting information from a young parents message board or a new
 set of skis from their Facebook Ski group, Millennials have easily accessible resources to learn about
 purchases from people who best understand their needs. likewise, Millennials proactively seek to tell
 others about products they love and do so effectively as they share information about the product in a
 way that matters to them as individuals, not through mass marketing messaging.

 recommenDAtions Drive behAvior
 The trust and relevance Millennials have with peer-to-peer communications, and the outlets
 Millennials have for communicating through them, makes peer recommendations a hot commodity in
 marketing any product. While TV can still give a lot of ground cover and drive awareness for brands, it
 is word-of-mouth recommendations that have the greatest influence over purchasing behavior.**

      “The reason why Apple marketing is widely successful is
      because it merges giving an overview of the product in a
      compelling manner with constant reminders that it exists
      through press releases around the hype that the product
      has produced (e.g. the wait lines for stores to open). This
      combination creates an ‘event’ – only open for a certain
      amount of time which drives the desire to get involved
      and become part of a larger group.”

       - Gordana, London, age 26

 *Figure 10 **Figure 11

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 The Future of Business
 While the past decade ushered in new challenges that companies are scrambling to get their head
 around, the next decade will require that businesses make large scale changes to the way they
 operate. While previous large shifts in media and developments in technology have evolved the face
 of big business, the game stayed the same in many ways. Manufacturing advanced, the media shifted
 slightly but the formula remained the same. Create a decent product that serves a large consumer
 need, deliver enough reach and frequency to get people to buy it, rinse and repeat.

 So, what’s changed now? Well, everything, and it will only keep evolving. Change may be
 underestimated by most and likely unclear to every business , but when looking at Millennials’ beliefs,
 it’s obvious that the old formula of business will not reign in the future. Millennial Inc is a real-time,
 two-way, customized, collaborative and merit-based business where brands and consumers form close
 relationships and have expectations of one another that more closely resemble those with friends or
 relatives than with a global conglomerate.

 So how does a business evolve to become more like Millennial Inc? Here are ten core principles that
 successful business will adhere to:

 enAbLe oPen coLLAborAtion Across the orgAnizAtion. Remove silos and enable
 diverse cross-functional teams

 Ask for more from every emPLoyee. Continually present new challenges and allow for
 rapid growth for those who perform

 vALue iDeAs over exPerience. Seek out and recognize good ideas wherever they exist in your
 eco-system, whether from the CEO, mail room clerk, supplier or even customer

 engineer humAnity. Utilize technology to make products more customized, communications
 more personal and consumers lives more enhanced

 Don’t skimP on QuALity. Consumers will quickly avoid those products that fail to meet their
 expectations and have megaphones to ensure their thoughts are heard

 integrAte resPonsibiLity into the core of the business. Don’t give back- be a
 company with a mission beyond just profits

 be genuine. Don’t hide behind celebrity personas- focus on connecting to individual consumers
 and communities in ways that are authentic, relevant and meaningful

 think 2-wAy. Partner with consumers across all areas of the business- live and breathe
 transparency and open communication

 foster ADvocAcy. Build products and create marketing that invites consumers to share and
 leverages word-of-mouth, the most influential source of information

 chAnge. If your business is not continually searching, evolving and finding new ways to do things,
 you won’t keep up

 To view more about the study visit www.millennialinc.com
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Chelsea Market
75 Ninth Avenue, 4th Floor
New York, NY 10011
T 212.779.8700

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Figure 1

     Millennials’ Preferred Approach to Decision Making
                           Amongst Peers               in the workPLAce









I prefer someone else to make    I prefer to be part of a team    I prefer to have the ability to
  the decisions, I don’t need     that makes decisions on a        make decisions myself with
         to get involved               consensus basis               little input from others

Figure 2

    Reasons Why Millennials Sought Out Their Last Job

                                                                  uk          us

                                            16%                             12%
                                                             9%        9%

            Just needed     Better       Appeal of      More senior         Benefits/
             a change       Salary    industry/position  position            Perks
       Figure 3

                                  Descriptors of millennial preferred work environment

Figure 4
           Companies Millennials Aspire to Work For

             us            13%

                                     3%       3%
                                                           1%        1%        1%     1%          1%

                  goo Micros
                             oft isney pple Nike      art Pixar        ross          MTV      ebo
                                D     A          Walm           R ed C                     Fac



                                               3%     3%
                                                                2%        1%    1%     1%         1%

                              le                             t                  r                   y
                    NHS goog           soft                               y
                                              BBC Apple rnmen Virgin Disne Pixa                  Son
                                  icro                   e
                                M                    gov
 Quote 1

     "We should creat
                     e products
 using a model lik
                  e Threadless-
 have our consum
                 ers design
 what they want.
                   That way
we're always pro
                 ducing what
our customer ba
                se wants
-Mia, 24, Seat
Figure: 5

               Descriptors of millennial preferred work environment

     Quote 2

  “If I buy s
               omething, I
  want it to la
               st. I can
 justify the e
               xpense of
 something th
               at’s a bit mo
 pricey if I k                re
              now it’ll las
me more tha                t
              n a season o
two.”                       r
– Kim, 24, Lo
  Figure 6

      I am concerned about my personal
          impact on the environment

DisAgree highLy   neutrAL    Agree highLy

30%                50%
                        Quote 3

                         “No, we’re no
                        celebrities... I t using
                        with the ave can’t identify
                       – can you? H rage celebrity
                       ask our custoow could we
                       to!?"           mer base
                       –Jake, Seat
                                      tle, age 28

Figure 7

    Celebs as Spokespeople
     Percent of millennials who would   Figure 8
          use stars to advertise
                                         Celebrity or Character
                                        Icon Millennials identify with more




              yes       no

                                              chArActer       ceLebrity
                  A great ad will impact my
                     purchase decision
Figure 9




                highLy        neither           highLy
               DisAgree      Agree nor          Agree

              Quote 4

              “I love flash
                             mobs or com
                                            mercials tha
              about conce                                t talk
                            pts rather th
                                           an products;
             are a refresh                                both
                            ing change to
                                            marketing and
             me feel like                                  make
                           I’m part of
                                         something by
             me rather th                               engaging
                           an inundating
                                          me. I would
            either really                              n’t say
                           helps me bu
                                        y a product
            friends do th                             – my
                           at – but the
                                        y do remind m
            my friends t                               e and
                         hat those co
                                        mpanies exis
           warrant som                               t and
                         e investigatio
           -Mia, Seattle
                         , age 24
Figure 10

            Preferred Method for Receiving News/
            Information Around Products



                                                                                 0%       0%

                outh   TV         ges      pers
                                                            io              s
        rd o
             fM                 pa      spa es           Rad           feed s/flyers          s
     Wo                     Web      New azin                    RSS           et        cast
                                                                          eafl       Pod
                                      mag                               l

Figure 11

                  Word of Mouth in Relations to TV

                  Word of mouth recommendations influence me more than TV adverts

          15%                        48%

            neither Agree                      Agree                           DisAgree (8-9)
            or DisAgree

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 Research Methodology

 As Franz Boas – the grandfather of modern anthropologic science – would say: a collection of data
 from every aspect is the most important element in understanding culture. In attempting to stay true
 to his thoughts, Intrepid and Mr Youth sourced their data for this study from 3 different methodologies
 and an assortment of Millennial minds. These included an ethnography of an organically-built online
 community, a set of consecutive focus group think-tanks and a quantitative survey conducted across a
 larger population of Millennials. Each component was used in tandem to shape the questions we asked
 throughout the research and corroborate the empirical insights that we arrived upon.

 To reach our ultimate goal of understanding the underlying interactions between Millennials and the
 consumer world, each stage of research was used to slowly build the Millennial mindstate and clarify
 how their thought process worked. The digital ethnography gave us their environment; the Virtual
 Company allowed us to observe their perspective on modern business; and the quantitative survey
 gave us the chance to test and confirm our hypotheses.




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     377 MIllENNIAlS – AgES RANgINg FROM 18 TO 32

          Weekly engagements through forum topics
          Semi weekly engagements through blog topics

          Job hunting
          First job
          Continued education

     Over a two month period of time, Millennials from around the world were recruited to join Millennials
     Online and to be socialized with a group of their peers to engage in various activities. This stage of
     the research primarily served as structure. We covered top-of-mind subjects such as furthering their
     education, job-hunting after college and first jobs to get Millennials to talk amongst themselves and
     become engaged. This allowed us the ability to both gauge what the Millennial mindstate was and
     position the community for recruitment into the board of directors for the virtual companies.

     This leg of the research showed us that the Millennial population was inquisitive and skeptical of the
     way past generations conformed.

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       1 london, UK based (7 Millennials)
       1 Seattle, WA USA based (6 Millennials)

      1 per week over a 3 week period

      Product development
      Business culture
      Organizational behavior
      Company structure

 From the Millennials Online community, two select teams were chosen to provide a robust collaboration
 of viewpoints for three focus group think tanks where they would build the ideal Millennial-run business.
 Each session would have its own theme and build on the last, slowly developing their concept. In the first
 week both groups covered desired businesses ideas, collaborated on a venture and structured their product
 offering. The ideas teams came up with were all-encompassing (green, local, humanitarian, crowdsourced,
 politically-minded, personal, etc). However, it became evident early on that many of these features were not
 mandatory, but were nice-to-have considerations.

 Week two covered messaging propositions. This is when the strength of engagement in non-traditional
 media and the lack of immersion in passive advertisements were discussed at length. All marketing
 campaigns the Millennials developed stemmed from community culture experiences and were deeply rooted
 in word-of-mouth techniques. Branding also notably played less of a role here, which foreshadowed later
 data that suggests a diminishing strategic need for branding amongst the Millennial population.

 The final week explored company structure and organizational behavior. In aligning their business
 model to their core offering, Millennials chose a bottom-up advancement structure and merit-based
 acknowledgement plan over the traditional model. This choice originated from a lack of connection
 participants observed in the marketplace between the products themselves and many of the companies
 behind them.

 Throughout these sessions, observations about interactions were also made. Amongst themselves and
 without stimulus to do so, the Millennials took on an egalitarian mantle – indicative of their community
 orientation and desire for peer-to-peer engagement. This fundamental basis would be seen resonating
 throughout the remainder of the research.

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      18 TO 32 FROM THE US AND UK

      812 COMPlETES

           Career attitudes
           Branding/messaging preferences
           Work environment
           Communication/interaction preferences
           Tech usage
           Political activism
           local awareness/association
           Ecological/ethical alignment

      After developing Millennials Inc and reviewing business creation with the board of directors in the
      virtual companies, validation was needed to corroborate the insights found. To do so, 812 Millennials
      in the US and UK were surveyed online over a two week period. This leg of the research drilled
      further into the Millennial mindstate and addressed many subjects, strengthening some hypotheses
      and annulling others. Among these annulments were the noted singularities within the groups around
      political activism, localization, and humanitarian collaboration that were not reflected by the broader
      data. Confirmations have been presented in the body of this whitepaper itself.

                Employment Status
                            6%                                            fuLL time emPLoyeD
                       8%                                                 PArt time emPLoyeD

                  27%                              43%
                   12%                                                            21%
                                                                          emPLoyeD & stuDying

                                                                          seLf emPLoyeD

                            25%                                           unemPLoyeD


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          Annual Income uS


                                                       13%                                11%

                    $0-25,000        $25,000-        $40,000-         $56,000-         greater than
                                     $40,000         $56,000          $75,000           $75,000

           Annual Income uK

                    36%                36%



                   £0 to            £15,000 to         £26,000 to          £40,000 to            More than
                  £15,000            £25,999            £39,999             £69,999              £70,000

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        Current Marital Status





                     Divorced      Separated     Unmarried      Married         Single
                                                                                    current mAritAL stAtus

         Current Number of Children
             80%                                                 current number of chiLDren








                          0           1         2 to 3    4 or more

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        Level of Education

        29%                  25%
                                                                                 6%               4%       2%

                                                                             Associate’s degree
         Bachelor’s degree

                                                                                                             Doctorate degree
                             High School

                                                           Master’s degree



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